Art: Commodity or Valuable - LAW00061M
Module summary
This module addresses the inherent tensions between art as a commodity and art as a valuable, cultural treasure. The module examines taxation regimes, personal property rules and protections, questions about attribution, provenance and forgeries. Additionally, the module considers the heritage protection regime and listing, the management and protection of art and heritage institutions under English trusts law and ethical questions raised by Holocaust-tainted art and the work of the Spoliation Advisory Panel.
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Semester 1 2025-26 |
Module aims
This module examines the competing tensions inherent in art - sometimes viewed as a financial asset or commodity, and sometimes viewed as a valuable, a 'hands-off' treasure to be protected and enjoyed. To this end, the module examines aspects of art as a commodity: its taxation treatment, and the personal property rules and protections applying to art as an asset. Additionally, the module examines art as a valuable, a national and cultural asset and considers the management and protection of art under trusts law, heritage protection and listing processes, as well as the ethical concerns posed by Holocaust-tainted art claims and the work of the Spoliation Advisory Panel (UK). The course will be taught by a mixture of Problem Based Learning and through an inductive approach.
Module learning outcomes
- Demonstrate a deep and systematic understanding, as applicable to art and transfers of art, of personal property rules and protections under Anglo-American Law and private international law rules applying to art as a 'commodity'
- Critically evaluate principles of negligence, attribution and provenance as they relate to art works in the art market
- Apply a deep and systematic understanding, and ability to undertake critical analysis, of how trusts are formed, regulated and apply under English law to artworks and heritage sector institutions
- Analyse and synthesise the main taxation issues arising in relation to art works
- Critically evaluate advanced scholarship on the inherent conflict between art as a cultural and national asset, with art as a commodity and financial asset
- Appreciate the ethical concerns posed by Holocaust-tainted art and the role of the Spoliation Advisory Panel (UK)
- Synthesise complex information and analysis of legal documents and theory, in the application of legal problem-solving skills to provide practical solutions to clients seeking to achieve specific financial and legal outcomes in respect of art works
- Apply a range of transferable personal, collaborative and practical legal skills in the context of dealing with complex disputes relating to art works
Module content
In examining the tensions inherent in the legal and art historical treatment of art as a commodity within a market, and art as a valuable treasured for its cultural worth, this module examines a broad range of relevant legal and market rules and principles. The taxation treatment of art, its regulation and protection as a form of personal property and the impact of third party disputes on art as a commodity are examined. Additionally, the module considers the management and protection of art under trusts law, heritage protection and listing processes, as well as the ethical concerns posed by Holocaust-tainted art claims and the work of the Spoliation Advisory Panel (UK).
Indicative assessment
| Task | % of module mark |
|---|---|
| Essay/coursework | 100 |
Special assessment rules
None
Additional assessment information
Formative work is embedded in the Problem Based Learning nature of this module's learning process.
Indicative reassessment
| Task | % of module mark |
|---|---|
| Essay/coursework | 100 |
Module feedback
Students will receive formative feedback on oral and written work during the module as part of the Problem Based Learning process used in this module. Individual summative feedback on assessments will also be provided.
Indicative reading
- The Illicit Trade in Art and Antiquities - Janet Ulph
- Art Law: The Guide for Collectors, Investors, Dealers and Artists - Ralph Lerner and Judith Bresler
- Law, Ethics and the Visual Arts - Merryman, Elsen and Urice
- Private International Law, Art and Cultural Heritage - Christa Roodt
- Art, Cultural Heritage and the Market: Ethical and Legal Issues - Valentina Vadi, Hildegard Schneider